Market Conditions Commentary
 
When you look around there is nothing but slop at the auctions due to the "temporary trend"
by Robert Hollenshead
Jun 19 2013 3:30PM

Because of this temporary trend that many dealers are being guided into by different initiatives wholesale less, retail illogical units based on their brand, fewer and fewer real cars are turning up at auctions (I say temporary because sooner or later this fad will  catch up with them and we’ll be back to business as usual.  It’s actually happening now in many cases).  If you took a few minutes to look at pre-sale inventory there is close to nothing other than units that are one click off of industrial waste offered for sale at auction. When you look at what’s for sale at the average auction it is a raft of rental slugs, 150,000 mile junks, and anything that is almost a car has a bad Car Fax. 

Just like every week, 52 per year, we have 600 units at Manheim.  I am sitting in the office reviewing the merch.  I am not bragging, but I believe the group we pinched a spectacular group.  They are 100% unique in that there in not a single auction in North America that even gets close the volume, depth, quality, and transparency than this group.  Best of all they will all have new owner’s by Friday, every one of them.  There is no other venue in the country that can make this claim.  We are taking no hostages. 

In addition,  none of what we are selling have been offered for sale on OVE, Open Lane, or anyplace else.  They are straight off the street (this week, motor still warm from being traded) and in open commerce for the first time.  And by the way, as always, we tell you when we know a unit has a caution on Car Fax as I am not in the trickster business.   I believe I am the only seller in the country that announces the fact when there is a car that has a caution on Car Fax.  We don’t just tell you the positive, I tell you the negative…and price those bitches to sell, not to trick.  There are no sunglasses and mustache packages on these hamburgs. 

Special bonus:  If you know of someone else that, by design, discloses a negative hit on Car Fax I would love to know who it is.  Please email me, I’ll send you a $500 reward (must be documented). 

As fewer real cars are showing up at the auction we continue to buck the trend.  We have 600  units, 350 are under 30,000 miles.    All of them are first time to the market, priced to the current market and will be sold.  As always, we are the nation’s highest volume, highest conversion seller.  Not just at Manheim, but anywhere.  I don’t put signs up acting like I am selling, I actually sell.  Talking the talk is a light year away from walking the walk.  It’s why an original Picasso costs millions and a photograph of one  is free, one is real and the other is bull dung.   

Before you log into our lanes, do some pre-sale research around the country.  There is nothing but hogs, off lease rerun duplicates, and sellers looking to get double retail for shop rejected doinkers.  Then look again just to be sure.  After that, log into our party.  As hard to believe as it seems, just like a factory, out pops a string of wild merch getting sold for too much, too little, on the money, or whatever, but really getting sold, not talking BS and wasting your time.  Sit back, get your favorite beverage, or case thereof, order some take-out and enjoy the show, taking the doe and letting them go (I am a wholesaler, never claimed to be a poet).

I would love to see your face at our place, the 17545, but if you can’t make it, log on the our sale on Simulcast.  Have fun, pay attention, and pinch a few for yourself. 

I hope you are having fun, I am still having a ball.  


4 Readers' Comments

1
Kevin Nachbar
Overland Park
KS 66211
12 years ago
Bob,
You are right on the mark. No matter how you look at cars at auction it is hard to find one unit that is being up streamed that isn't too much money when you factor in year,miles,equipment & condition. I am getting a few bought from you but will be working your stuff harder. Your cars do bring all the money by the way. When you factor in auction fee's and freight not much room left. Always a pleasure reading your commentaries. By the way we are ordering some the Airclenz that you spelled wrong in your last commentary. John McCarthy says to tell you Hi!!. Good luck I will be on line trying to buy.
Thanks Kevin

2
Robert Hollenshead
MANHEIM
PA 17545
12 years ago
Thanks Kev,

Please blog back and tell the acid truth on the product. All BS aside, it works. You have to do it for two hours with the AC on and car locked up. It even takes the Christmas tree that was hanging on the rear view mirror stink out.

John Mc is the best. I fell terrible not having any communication with him. I know he is busy. I hope the family is good.

Thanks for your business.

3
Kevin Nachbar
Overland Park
KS 66211
12 years ago
John said to send you his best. Also if you come across a Aston Martin Rapide to let him know. He speaks very highly of you also.

Thanks Kevin

4
Gerald (gerry) Acquilano
Geneva
NY 14456
12 years ago
Latye model Toyota Camry's sell well in our area. I used to score a couple at Maheim once in awhile. Take this into consideration. Used (usually rentals, but nice ones) 2012 Camry's sell at Manheim for around $14,500-$15,800 depending on the usual miles, condition, color. Our largest used car dealer in our area Simmons-Rockwell sells them for $14,900, and advertises "choice of dozens". How can there be any money left? Add the Manheim fees which are through the roof and the trucking home which has nearly doubled and you don't have a chance in hell to make any profit.
Seems like the cheapest, cleanest cars there REGARDLESS of miles and year are the only cars where the little guy has a shot at any peofit. I used to believe in the ole: "There's an ass for every seat" theory, but where's the profit margin?
Gerry Acquilano
Geneva, NY
July 15th and I will will make 50 years of selling cars.....I'm almost done! [smile] YEOOOWWW!!!RDY43